U.S. shale pioneer Chesapeake Energy likely to file for bankruptcy soon, sources say

first_img FacebookTwitterLinkedInEmailPrint分享Reuters:Chesapeake Energy Corp. is preparing to file for bankruptcy as soon as this week, said three people familiar with the matter, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak.The Oklahoma City-based company, co-founded by the late wildcatter Aubrey McClendon, is in the final stages of negotiating a roughly $900 million debtor-in-possession loan to support its operations while under Chapter 11 bankruptcy-court protection, two of the sources said.The company is also in talks with creditors to “roll up” some of its existing debt and make it part of the bankruptcy loan, bringing the total debtor-in-possession financing closer to $2 billion, the sources added. The company is reeling under a mountain of debt totaling more than $9 billion. Chesapeake is also attempting to negotiate an equity infusion from creditors to help it emerge from bankruptcy proceedings, one of the sources said.Chesapeake plans to complete its negotiations with its creditors and file for bankruptcy as soon as Thursday, the three sources said. The timing could slip to next week depending on the progress the company makes in these discussions, the sources added.If the company manages to emerge from bankruptcy, creditors that include Franklin Resources Inc., will take over Chesapeake in exchange for eliminating more than $7 billion of its debt under the outlines of a plan being negotiated, one of the sources said. Franklin is among Chesapeake’s most significant creditors, holding large portions of its debt.Chesapeake helped pioneer the extraction of oil and gas reserves from shale rock formations, an environmentally controversial process called hydraulic fracturing, or fracking.[David French and Mike Spector]More: Exclusive: Chesapeake Energy to file for bankruptcy as soon as this week – sources U.S. shale pioneer Chesapeake Energy likely to file for bankruptcy soon, sources saylast_img read more

North Massapequa Wildlife Rescue Group Spared

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Bobby and Cathy Horvath, wildlife rescuers from North Massapequa, tending to a hawk.Oyster Bay town officials have reached an agreement with a North Massapequa nonprofit wildlife rescue group that had been summonsed for housing dangerous animals in a residential house two weeks ago.Bobby and Cathy Horvath have agreed to give their bobcat to the Brookhaven town’s wildlife center in Holtsville and start rehabilitating animals at Nassau County’s Seaford-based Tackapausha Museum and Preserve, which the couple is already affiliated with.“We were shocked when all this happened, but were happy that it’s resolved,” Cathy said while her husband was out wrangling a swan that wandered onto the Long Island Expressway on Wednesday morning. “This has been worst week of my life.”Read a 2010 Long Island Press profile of Bobby and Cathy HorvathWildlife In Need Of Rescue & Rehabilitation, which has rescued about 500 animals annually since 2002, has New York State and federal permits for their wildlife rehabilitation operation. But, Oyster Bay Supervisor John Venditto said the permits don’t override town code forbidding dangerous animals in residential neighborhoods.“I respect the work that they do, but the problem was…they’re permitted personally, not the location,” said Venditto, who also offered the Oyster Bay animal shelter as a backup wildlife rehab location. “It’s about finding a way for the Horvaths to continue their work at a suitable location.”Venditto said the summons will be dropped and the couple will not be fined as a result. A code enforcement officer had originally responded to the home after an anonymous complaint from a neighbor about the smell.Det. Bob Sowers, the lead investigator for the Nassau County SPCA—the nonprofit group that enforces animal cruelty laws—said the service the Horvaths provide is invaluable.“You couldn’t ask for more responsible people,” Sowers said, recalling various times he’s called the couple for help with wild birds. “They’re outstanding people. They do a wonderful job.”last_img read more

Jakarta gears up for possible collapse of healthcare system

first_imgThe city’s isolation bed occupancy rate stood at 77 percent and the intensive care unit (ICU) bed occupancy rate at 83 percent as of Sunday. The city currently has 4,456 beds in isolation rooms and 483 beds in ICU rooms. The COVID-19’s task force spokesperson Wiku Adisasmito recently said that 80 percent of bed occupancy is considered a safe rate so that hospitals could carefully and promptly treat patients.Jakarta also reported a positivity rate of 12.2 percent for the past week, well over twice the World Health Organization standard of 5 percent, after the city met the WHO’s minimum testing rate of one test per 1,000 people per week.Jakarta recorded a positivity rate below 5 percent a week before reopening the economy in June. The ratio gradually increased starting from the second week of July.Despite the rising number of positive cases, Jakarta Governor Anies Baswedan has extended the so-called transitional PSBB phase five times since June, with the latest being at the end of August. His move sparked concerns from experts who demanded he reinforce stricter social restrictions in the city.Read also: Jakarta on ‘right track’ in COVID-19 handling, Anies says, despite rising numbers The healthcare system in Jakarta is at risk of collapsing as hospitals are reporting “alarming” shortages of beds needed to treat COVID-19 patients.On Wednesday, Jakarta recorded 1,026 new cases and 17 deaths — bringing the tally to 49,837 confirmed cases, 11,245 of which are active cases. About 4,554 active cases are hospitalized.With the worsening COVID-19 situation particularly observed after the gradual easing of large-scale social restrictions (PSBB) in June, bed occupancy rates — the number of people hospitalized with confirmed or suspected cases of COVID-19 — in the city’s hospitals are increasing. A projection by researchers from Social Resilience Lab, Nanyang Technological University (NTU), in collaboration with the LaporCOVID (Report COVID-19) community, shows that the healthcare system in Jakarta may collapse by the end of the year unless a massive intervention is made to curb transmission of the disease.The modeling, which analyzed data from Aug. 1 until Sept. 3 using the Gaussian equation, predicted up to 3,000 deaths by the end of October as more people requiring hospitalization were unable to access treatment because hospitals had run out of beds, according to NTU researcher Fredy Tantri.“We developed the best- and worst-case scenarios for the next two months. The [worst-case scenario] model shows that the city’s healthcare capacity would be fully occupied in the fourth week of September,” Fredy said in a virtual press conference on Wednesday.By Wednesday, Jakarta had reported a total of 1,347 deaths since the outbreak emerged.Around 37 percent of positive cases in Indonesia’s capital have shown medium to severe symptoms that require treatment in hospitals, prompting the Jakarta Health Agency to consider increasing bed capacity.It is planning to allocate more beds in 13 city-owned hospitals for COVID-19 patients, add beds in 67 referral hospitals, as well as cooperate with private hospitals for additional referral hospitals, Jakarta Health Agency head Widyastuti said. With the scheme, Jakarta will have an additional 851 beds, bringing the total number of beds for COVID patients to 5,432 — comprising 4,807 isolation beds and 636 intensive care beds.Read also: Patients crowd hospitals as Indonesia loses 183 ‘priceless’ medical workersWidyastuti, however, said that to increase the number of medical workers was never an easy task.The agency earlier this week recruited 1,174 new medical workers, including pulmonologists, internists, anesthetists, pediatricians, nurses, midwives and public health educators who came from across the country.Indonesia, home to 271 million people, has 0.13 specialist doctors per 1,000 people, fewer than half the government’s target of 0.28 per 1,000 people as part of its health reform program, according to National Development Planning Agency (Bappenas) data cited by the Indonesian Medical Association (IDI). The figure for general practitioners is 0.52 per 1,000 people, fewer than half the ideal target of 1.12.On Wednesday evening Anies eventually decided to reinforce stricter restrictions that will take effect starting next Monday due to the surge in COVID-19 deaths and rising hospitalizations since mid-August. He cited the city administration’s projection that isolation beds would be fully occupied in mid-October and ICU beds on Sept. 25 unless the city returned to stricter PSBB.“Without strict restrictions, it [a collapsed healthcare system] is a disaster waiting to happen,” he said while announcing his decision on Wednesday night.Read also: Testing disparity looms over Greater Jakarta’s efforts to break chain of transmissionWidyastuti, meanwhile, suggested the central government and other regions adopt a more universal policy to curb the outbreak given the high mobility of people entering the capital.“[Comprehensive policies] must not only apply to Greater Jakarta but also Indonesia as a whole, as [people from] one province also have the potential to transmit COVID-19 to other people in other provinces,” she said, citing that 30 percent of confirmed cases in Jakarta originated from outside the city.In an attempt to break the chain of COVID-19 transmission, Anies recently revealed a plan requiring all people in need of mandatory self-isolation to be quarantined at facilities run by the city administration. The plan was a response to the lack of discipline among self-quarantining individuals who occasionally failed to abide by the existing health protocols.The makeshift hospital at the Kemayoran former athletes village in Central Jakarta will open this month another two towers within its compound to accommodate up to 4,000 patients with mild or no symptoms who need no hospitalization but must self-isolate.Topics :last_img read more

GO-TIME: 4G Laptops Making Pennsylvania Agriculture Department’s Consumer Protection Work More Efficient

first_imgGO-TIME: 4G Laptops Making Pennsylvania Agriculture Department’s Consumer Protection Work More Efficient Efficiency,  GO-TIME,  Press Release,  Results Harrisburg, PA – The same technology that allows mobile device users to connect anywhere at any time is transforming how the Pennsylvania Department of Agriculture does business.Department field staff identify and mitigate plant pests and foreign animal diseases. They also provide a broad array of other consumer protection services, including inspections of food and feed production facilities, farms, amusement rides, fuel pumps, scales of all sizes, commercial dog breeding kennels, restaurants, and food banks. For the past two years, the department has been equipping field staff with updated laptops with built-in, secure 4G wireless technology.“Some of our field staff have been using the same computers for ten years. Updated laptops mean they no longer need to travel to one of the department’s regional offices to have secure access to their emails and files. Now they can work anywhere they have a cell phone signal,” said Agriculture Secretary Russell C. Redding. “We’re operating more efficiently, saving travel, paperwork and time.”Field staff perform inspections and other duties in each of Pennsylvania’s 67 counties. In some areas, there was previously no way to securely access email, files stored on the department’s network and critical updates to their computers.To date, the department has deployed 250 laptops, with an estimated cost savings of $520,000. The move will save the department more than $10 million during the project’s first five years. Within the next year, more than 130 staff will receive laptops, completing the department’s deployment of the technology.“By switching to a four-year hardware refresh cycle, and leasing instead of buying computers, we’re able to improve security and productivity,” added Redding. “With these laptops, we’re reducing the time it takes to make inspection results publicly available on the department’s website.”The technology upgrades are part of Governor Tom Wolf’s GO-TIME (Governor’s Office of Transformation, Innovation, Management, and Efficiency) initiative, which is modernizing government operations to reduce costs and improve services. During Fiscal Year 15-16, GO-TIME saved $156 million, exceeding the $150 million goal set by Governor Wolf.“GO-TIME looks beyond the dollar figures to figure out how to transform the way we serve the commonwealth,” said Redding. “We share Governor Wolf’s vision of government that works, and this technology upgrade is helping to make that a reality.”For more information on GO-TIME, visit www.governor.pa.gov/go-time/.Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf January 06, 2017center_img SHARE Email Facebook Twitterlast_img read more

Cairns RE/MAX agent Cathy Ratcliffe tells of horror contract

first_img90/2-6 Lake Placid Rd after a fire tore through the villa on April 30, 2018.The unlucky buyer had just finishing signing the contract to take over the property when the home was gutted by fire, sending him hurtling into weeks of police investigations, difficult negotiations with insurance providers and organising for extensive repairs to be completed. On April 30, The Cairns Post reported on the heroic action of Clark Milne who grabbed a hose and immediately began dousing his neighbour’s house when he saw it engulfed in flames. Acting on instinct, Mr Milne said he kicked the bedroom door in a bid to stop other properties in the Kamerunga Villas complex on Lake Placid Rd from catching alight. The vacant property’s tenant had moved out the day before and the home was damaged extensively as a result of the blaze.“We had the opportunity to bail from the sale but stayed through to the end,” the buyer said. “There were difficulties with pre-approved bank loans, unusual circumstances with communication between us and the seller – we were at opposite ends of the country and often in remote locations and uncontactable by phone or internet – and hurdles with bank transfers for settlement.” 90/2-6 Lake Placid Rd, CaravonicaA CAIRNS real estate agent has spoken out on the importance of home and contents insurance after a fire tore through a villa she had just sold to a client.RE/MAX agent Cathy Ratcliffe had kept both parties together during an usually trying time for the vendor, seller and agent. Ms Ratcliffe said while her work and actions were all a part of the job, she urged all property owners to get insurance as soon as they signed on the dotted line.“No one expects a fire or flood or any other disaster or tragedy to happen and especially not when they have just started the exciting process of buying a new house,” Ms Ratcliffe said.“But, insurance is vital and, even though it could be seen as a big expense, you do not want to be stuck with rebuilding or repairing a property from scratch with no financial assistance.“Insurance can be paid once a year or broken up into smaller, monthly payments to help.”Three months after putting in an offer of his new home, the FIFO worker, who did not wish to be named, moved into his Caravonica villa.More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days agolast_img read more

DMA: Maritime Regulation for Autonomous Ships Needs to Be International

first_imgMaritime regulation for autonomous ships should be decided at the international level, a new report published by The Danish Maritime Authority (DMA) recommends. Such regulation should be made more flexible if it is to support the development of autonomous ships, the report says.Identifying where changes in maritime regulation are needed, the report will be used as a platform for the future effort of DMA to develop regulation and make it digitalization-ready. ”The development of autonomous ships is fast-moving and we must be at its forefront. However, part of the current regulation is based on traditions dating back to the age of sail. That needs to improve. The regulation of autonomous ships shouldn’t be a hindrance to further advances,” Brian Mikkelsen, Denmark’s Minister for Industry, Business and Financial Affairs, commented.As explained, the overall approach to regulation of autonomous vessels is that they must be at least as safe as conventional ships. The report provides a recommendation that regulation in this area should be agreed upon internationally and more specifically in the International Maritime Organization (IMO). Denmark is already working hard at getting this topic at the top of the agenda at international level. ”We must be able to seize opportunities created by development of new technology. Denmark has a strong maritime tradition and we want to stay in the lead when it comes to development and testing of technology,” Mikkelsen pointed out.“In a globalized industry, regulation and standards for autonomous ships must be international. This is the only way to ensure significant global development in this area,” he added.last_img read more

Saturday feature at Legit Speedway pays IMCA Modified winner $1,500

first_imgWEST PLAINS, Mo. ­– There’s a $1,500 check waiting for the winner of Saturday’s Xtreme Motor Sports IMCA Modified feature at Legit Speedway.A minimum of $100 will be paid to start and all applicable IMCA points will be awarded for the April 16 Fast Shafts All-Star Invitational ballot qualifier.Pit gates and the grandstand at West Plains both open at 5 p.m. Hot laps are at 6:30 p.m. and racing starts at 7 p.m.Entry fee is $50 and pit passes are $30. Grandstand admission is $12 for adults, $10 for seniors, $5 for kids ages 6-12 and free for ages five and under.The evening’s sponsor is Midwest Walnut of Willow Springs and Council Bluffs, Iowa.More information is available from promoter Gary Stolba at 417 252-1904 and at the track website, www.legitspeedway.com.last_img read more

Nantes to wear Argentine colours in tribute to Emiliano Sala

first_imgRelatedPosts Neymar, four others sent off as Marseille grab rare win at PSG Three more PSG players test positive for coronavirus Sarr signs Chelsea five-year contract Nantes will drop their usual green and yellow colours for Argentina’s blue and white-striped “Albiceleste” strip when they host Girondins de Bordeaux in Ligue 1 on Sunday. The move is to pay tribute to their former player Emiliano Sala. Nantes made the announcement on Tuesday, one year on from Sala’s death in a plane crash while travelling to Cardiff to join the then Premier League club from the French side. Nantes said the one-off jerseys would be for sale and all profits would go to Sala’s training clubs in his native Argentina. “Because he was dreaming of wearing the Argentine team shirt, the FC Nantes players will, for one league game, forsake their traditional yellow and green shirt for a blue and white jersey,” the club said in a statement. Sala died on January 21, 2019, in a crash off the Channel Islands, and his body was recovered from the wreckage two weeks later. Nantes and Cardiff City have yet to settle a dispute over the payment of Sala’s transfer fee.Tags: Channels IslandsFC NantesGirondins de BordeauxLigue 1last_img read more

Downing excited by Mel appointment

first_img Assistant head coach Downing has done a stellar job steadying the ship since Steve Clarke’s sacking last month and will aim to bow out on a high at St Mary’s, before Spanish coach Mel takes over next week after signing an 18-month contract on Thursday. Albion sit 14th in the Barclays Premier League, four points above the relegation zone, after a creditable run of three draws and a win under the likeable Downing. Press Association “My Spanish is worse,” he said. “It’ll be an interesting time. We’re aware he’ll need some help in terms of translations but football is a ‘universal language’ and we look forward to some different ideas.” The caretaker boss admits Mel’s appointment is a gamble – but no more so than any other. “Any appointment is a gamble, you’re never sure,” he said. “I always look at the positives. There will be new ideas, his own slant on it and it’ll be exciting times.” Mel was an early frontrunner following Clarke’s sacking but reportedly fell from favour due to disagreements over his backroom staff, with the Spaniard apparently keen to bring in his own team while the club wanted Downing and goalkeeping coach Dean Kiely to remain in their roles. The matter appears to have been settled and the pair’s future looks secure, although reports in Spain claim Mel still may bring in his own men in some capacity. “I’m not aware of that,” Downing said. “I know there are rumours flying around but I trust the club to do what they have over the last five or six years. I’m here to support the football club.” Downing will be without full-back Billy Jones again for his last game in charge. Jones has had an operation on a recent injury to his eye while fellow defender Goran Popov (neck) is out. Recent absentees Youssouf Mulumbu and Victor Anichebe are back in training but unlikely to feature. Mel’s appointment is an intriguing one, with the 50-year-old having never worked outside of his native Spain. However, the former Real Betis boss fits Albion’s criteria due to his history as a coach, rather than a traditional British manager, and his reputation for playing attractive football. “It’s exciting times and an appointment that’s gone full circle,” Downing said. “I’m pleased it got settled and there’s someone in place on an 18-month contract, which brings the stability that’s needed. “It’s been unsettling, particularly in the last week with a lot of rumours flying around. The players try to get on with things and I wasn’t sure if I was focusing on the Southampton game or whether the appointment was going to be made earlier.” He added: “I haven’t had chance to meet Pepe yet, I’m going to meet him over the weekend. I’m aware he is going to be at the game against Southampton and then we’ll crack on next week. “I’ve heard good things about the job he did at Real Betis, when he got them up into La Liga and stabilised them. The Spanish press like him. It’s a name I wasn’t aware of until a few weeks ago but he plays exciting, attacking football.” Much will be made of Mel’s reported lack of English but Downing foresees no major problems. Keith Downing is relishing “exciting times” for West Brom as he prepares to hand the reins over to new head coach Pepe Mel after Saturday’s trip to Southampton.last_img read more

Ireland to face England

first_img Ireland’s opening World Cup clash sees them take on Canada in Cardiff on September 19. Their other pool opponents are Italy, Romania and France. Ireland will conclude a busy World Cup warm-up schedule next year by tackling England at Twickenham. Press Associationcenter_img The Irish Rugby Football Union announced on Wednesday that head coach Joe Schmidt and his players will face a four-Test programme ahead of the tournament. Ireland’s opening game in the Guinness Summer Series will be against Wales in Cardiff on August 8, followed by successive home appointments with Scotland (August 15) and Wales (August 29), before meeting England on September 5. last_img read more